Adjust the inputs below. Results update as you type.
Choose a target payoff date and the calculator works backward to find the required monthly payment, or set a payment and see the payoff date. Extra principal payments reduce the balance faster because subsequent interest is calculated on the lower balance. Refinancing to a lower rate has the same effect—use both levers. Include any prepayment penalties in the analysis.
Fixed payment each month on a declining balance (typical for cards or simple loans). APR is nominal; your issuer may calculate daily.